CONNECT by California MBA

The mortgage borrower has changed — but most lenders' engagement strategies haven't. In this episode of Connect, Paul Gigliotti, CEO of the California MBA, sits down with Bob Jennings, CEO of TrustEngine, to unpack what it really takes to win and retain borrowers in today's volatile, hyper-competitive lending landscape. From the dangers of AI-dependent borrowers walking in misinformed, to the untapped power of the full loan lifecycle — this is a conversation every LO and lender needs to hear. Bob shares why the human-in-the-loop is non-negotiable in mortgage, how TrustEngine and Mortgage Coach are helping loan officers move borrowers off the sidelines, and why making hard conversations easier is the true ROI of technology done right. Key Topics Discussed: AI & The Borrower Experience: Why LLM-reliant borrowers are arriving misinformed — and what lenders can do about it. Human + Tech: The "pilot in the seat" analogy that perfectly captures why automation can't replace the loan officer. Beyond Lead Gen: How TrustEngine manages the full borrower lifecycle — not just the top of funnel. The Lifetime Client Strategy: Why borrowers do ~7 mortgage transactions and rarely with the same LO — and how to fix that. Proving ROI: How Mortgage Coach drives 30% higher pull-through rates for the LOs who use it. Making Hard Conversations Easier: How technology helps LOs move rate-obsessed borrowers toward smarter financial decisions. About the California MBA: The California MBA is the leading advocate for the mortgage industry in California, dedicated to promoting fair and ethical lending practices through advocacy, education, and innovation. Connect with us: Website: https://www.cmba.com

Closing isn't just a moment at the end of a loan—it’s the highest leverage integration point in the entire mortgage lifecycle. In this episode of Connect, Paul Gigliotti, CEO of the California MBA, sits down with Michael Sachdev, CEO of Snapdocs, to discuss why the industry must stop treating closing like a simple "feature" and start seeing it as a critical end-to-end value chain. Michael shares how Snapdocs is helping lenders bridge the "capability gap" by automating tedious back-office tasks, reducing errors, and shortening cycle times from an industry average of 70 days down to just 52 days. From AI-driven CD balancing to the convergence of closing and capital markets, learn how digital collateral is becoming the ultimate competitive advantage for modern lenders. Key Topics Discussed: • Closing as a Value Chain: Why the quality of your closing determines the quality of the collateral you sell. • The ROI of Digital: How automating the closing process can strip nearly $1,000 in costs out of every loan. • Beyond eSign & Hybrid: Exploring features like e-notes, e-vaults, and automated funding QC. • The Consumer Experience: Why shortening the cycle time by 18 days leads to a significant lift in NPS. • The 2026 Outlook: What lenders need to do now to prepare for a fully automated future. About the California MBA: The California MBA is the leading advocate for the mortgage industry in California, dedicated to promoting fair and ethical lending practices through advocacy, education, and innovation. Connect with us: Website: https://www.cmba.com https://www.linkedin.com/company/california-mba/

In this episode of the Connect Podcast, California MBA CEO Paul Gigliotti sits down with John Hedlund, Vice Chair of ICE, Vice Chairman of the National MBA, and California MBA Board Member. John shares powerful insights from ICE Experience “Win” event in Las Vegas and breaks down the biggest shifts facing mortgage finance today: • Interest rate forecasts and the realistic chances of a refi boom • Why housing affordability remains challenged despite potential market corrections • The truth about the U.S. housing supply shortage (and why oversupply could emerge in 5–10 years) • Changing demographics: Why younger generations are questioning traditional homeownership • Regulatory updates including Basel III, AI oversight, and state-level challenges • The role of technology and AI as core infrastructure (not just a feature) for efficiency and compliance • Real talk on cost per loan, productivity, scalability, and what originators need to focus on to stay competitive Whether you're a mortgage professional, lender, or industry leader, this conversation delivers thoughtful analysis and practical leadership perspectives you won't want to miss. Key Topics: • Mortgage rates and housing market outlook for 2026 • Housing supply & demand realities • AI and technology in mortgage operations • Regulatory landscape (Basel III, AI regulation) • Industry productivity and cost management Subscribe to the California MBA channel for more Connect Podcast episodes with top mortgage leaders. Sponsored by the 2026 President Council: AmeriHome, Western Alliance Bank, Consolidated Analytics, Loan DNA, CMG Financial, Guild Mortgage, Rocket Mortgage, and more.

In this episode of the INSIDE THE IMPACT Podcast from the California MBA, host Paul Gigliotti, CEO of the California MBA, sits down with Nick Pabarcus, Managing Director of Non-QM Sales at PennyMac, to break down California bill AB1018 and its potential impact on automated decision systems—including AI—in mortgage lending. AI has powered mortgage efficiency since 1997 with Automated Underwriting Systems (AUS), and today it's embedded "cradle to grave": from borrower applications and OCR income analysis to predictive servicing and expanding access for low-to-moderate-income (LMI) and Non-QM borrowers. Yet AB1018's broad rules could force manual underwriting opt-outs, spiking fulfillment costs by 50-60% (potentially adding tens of thousands in lifetime interest for borrowers) and reducing credit access—ironically harming the consumers it aims to protect. Nick shares how AI improves speed, accuracy, reduces bias when properly overseen, and is poised to commoditize the growing Non-QM market. Paul stresses the need for nuanced policy that recognizes the mortgage industry's heavy existing regulation. Key takeaways: Responsible AI expands opportunities and lowers barriers—overreach could do the opposite. Timestamps: 0:00 – Welcome & AB1018 Overview 0:45 – AI's Long History in Mortgages 3:59 – Operational Concerns with AB1018 7:20 – AI Benefits for LMI & Non-QM Borrowers 10:05 – PennyMac's Non-QM Expansion & AI's Role 12:10 – Final Thoughts: What Lawmakers Need to Know Subscribe to California MBA for more industry insights on legislation, innovation, and advocacy. Like, comment your thoughts on AB1018, and share with fellow mortgage professionals!

Join Paul Gigliotti, CEO of California MBA, on Connect for Episode 254 with Tom Morelli from Wilco! Discover how Wilco is transforming mortgage origination with Charlie – a groundbreaking Production Optimization Platform (POP) that unites POS, LOS, AI, and business intelligence into one seamless system. Key topics: - Why traditional LOS/POS silos are broken and costing lenders $11-13K per loan - Making the borrower a true partner with real-time transparency and no more repeated document requests - Breaking workflows into discrete activities for parallel processing, higher quality, and lower fallout Wilco's founding vision from industry legends (DocuSign, Optimal Blue, Ellie Mae) - The Brimma acquisition: AI-powered content intelligence (DocFlow OCR/ICR) for quick wins – even if you're not ready for full Charlie - Business intelligence that self-diagnoses bottlenecks and sets data-driven expectations Whether you're a lender battling high origination costs, prepping for the next refi wave, or exploring AI in mortgage tech, this episode is packed with insights! Timestamps: 0:00 - Intro & Sponsor Shoutouts (AmeriHome, Western Alliance Bank, etc.) 2:30 - Meet Tom Morelli & Wilco's Founding Team 5:00 - The Broken State of Origination: Costs, Silos & Duplication 9:45 - Core Philosophy: Unified POS/LOS for Borrower-Centric Experience 15:20 - Discrete Activities Workflow & Parallel Processing 20:10 - Real Borrower Impact: Speed, Accuracy & Fewer Frustrations 25:40 - Reducing Late Fallout & Cost to Originate 28:00 - Brimma Acquisition: AI DocFlow & Modular Content Intelligence 32:15 - Business Intelligence: Real-Time Bottlenecks & Stats-Driven Insights Subscribe to California MBA for more industry-leading conversations on advocacy, tech, and mortgage innovation. Like & comment: What's your biggest origination pain point? Learn more about Wilco: https://www.wilco.io/ (or official site) California MBA: https://www.camortgage.org/ #MortgageTech #LoanOrigination #AITech #MortgageLending #ProductionOptimization #CharliePlatform #Wilco #CaliforniaMBA #Podcast

In this powerful episode of the Connect Podcast by California MBA, host and CEO Paul Gigliotti, sits down with Sasha Stair, CMB®, CMO at Xactus, to unpack the massive shift happening in mortgage verification. Say goodbye to outdated, manual, paper-based processes — Xactus 360 delivers dynamic, data-driven verification that adapts in real time. Powered by strategic partnerships with Plaid (bank data) and FICO (advanced scoring), lenders can now consolidate credit, income, employment, identity, fraud, flood, and more into smarter, faster workflows. Episode highlights: - Over 40% of U.S. workers have non-traditional income — how intelligent verification handles complexity without friction - Fannie Mae & MBA stats: ~25% of loans fall out due to incorrect income verification — the costly problem Xactus solves - Combining AI/machine learning automation with expert human consultation for lender-specific customization - Reducing loan fallout, speeding up pipelines, and improving borrower experience - Sneak peek at the upcoming Xactus Mortgage Intent Index — predicting borrower intent before they even apply Whether you're a lender, mortgage exec, or fintech innovator, this conversation reveals how technology + strategic data partnerships are reshaping origination and borrower engagement. Subscribe to California MBA's Connect Podcast for more insider conversations on mortgage innovation, compliance, and growth strategies. Timestamps: 0:00 Intro & Guest Welcome 2:30 Evolution of Verification Landscape 8:15 The Non-Traditional Income Challenge 15:40 How Xactus 360 Works 22:10 Partnerships: Plaid, FICO & More 30:00 Reducing Fallout & Streamlining Workflows 38:45 Future: Mortgage Intent Index 45:00 Sponsor Thanks & Closing

In this episode of the IMPACT Podcast, California MBA CEO Paul Gigliotti sits down with Chuck Iverson to break down California’s proposed Community Reinvestment Act (AB 801) and what it means for the industry heading into 2026. While the intent behind new legislation is often to help, Paul and Chuck discuss why policy must be grounded in operational reality to avoid unintended consequences for housing affordability and credit access. Key Realities Discussed in this Episode: The IMB Impact: Why independent mortgage bankers are already the primary drivers of lending to LMI and minority borrowers. Policy vs. Reality: The danger of well-intended legislation that ignores the mechanics of the mortgage market. The 2026 Outlook: What the California MBA is doing to ensure advocacy is driven by data and consumer impact. About the IMPACT Podcast: The IMPACT Podcast brings you the conversations that shape the mortgage industry, featuring leaders who are navigating the intersection of policy, business, and advocacy.

In this episode of Connect by California MBA, host Paul Gigliotti sits down with Vik Kasparin from Rams Mortgage Capital for an in-depth look at the secondary mortgage market. Rams specializes in mortgage asset valuation, training, advisory services, and whole loan trading—focusing on post-closing strategies for lenders, banks, and portfolio holders. They help market and sell specialized assets including non-agency jumbo, non-QM, second homes, bridge loans, and select agency products with arbitrage potential. Key highlights from the conversation: - How falling rates and supply/demand imbalances are driving buyer appetite in 2026 - Growing demand from insurance companies and asset funds pushing yields tighter (agency, jumbo, non-QM) - Holistic valuation methods: models + real-time trading desk insights to price prepay penalties, compare to Treasuries, and support warehouse bank mark-to-market - Why many lenders mistakenly expect par pricing—and how lower-coupon loans often trade in the 90s or 80s - The rise of non-QM and specialized loan trading (including scratch-and-dent paper) Whether you're in origination, secondary sales, risk management, or investing in mortgage assets—this episode delivers practical insights from one of the industry's major whole loan traders. Thanks to our 2026 President's Council sponsors: Amerome, Consolidated Analytics/loanDNA, CMG Financial, FundingShield, Guild Mortgage, Rocket Mortgage, Weiner Brodzky Kinder, and Western Alliance Bank. Subscribe for more mortgage industry interviews, market updates, and expert discussions from California MBA! #SecondaryMortgageMarket #NonQM #WholeLoanTrading #MortgageValuation #MortgageIndustry #NonAgencyLoans #RamsCapital

Join us on the Connect Podcast as CEO of the California MBA, Paul, sits down with John Rothfield, a seasoned economist and advisor at Derivative Logic, for a deep dive into the current financial landscape, managing market volatility, and turning economic uncertainty into a clear vision for the future. John brings a wealth of experience from institutions like Bank of America and CalPERS to the table. In this episode, John offers practical insights on how independent advisors empower lenders to lead, sharing his expertise on interest rates, FX advisory, and macroeconomic cycles. Key Discussion Points: • The Current Economic Cycle: John breaks down the high level of uncertainty but surprisingly low volatility in the market, sharing his outlook on stability as we approach midterms and how central banks are working to maintain balance. • Lessons from CalPERS: Gain valuable insights from John's time at CalPERS, emphasizing the critical importance of independent knowledge, robust processes, and respecting different timeframes when making investment decisions and managing risk. • Successful Risk Management: Hear two compelling examples of effective risk management, including an economic outlook that predicted market resilience and a corridor strategy that successfully reduced premium costs for a borrower. • The U.S. Government Shutdown: John explains why shutdowns are unique to the U.S., referencing the three multi-week shutdowns since the 1990s. He discusses the crucial economic data (like employment and inflation figures) that continues to be released and its impact on the Federal Reserve. • Economic Impact & Rate Outlook: We discuss the potential effects of a shutdown on the unemployment rate and the housing market. John shares his prediction for future Federal Reserve interest rate cuts (possibly in October and December) and his cautionary note about a potential "melt-up" in rates next year. • Actionable Advice: John advises listeners to act now and take advantage of the current low-interest-rate environment to protect against future inflation risks. Don't miss this essential discussion for anyone in finance, lending, or real estate who wants to navigate market volatility with confidence.

Digital mortgages aren't the future — they're here. Tune in to the latest episode of the Connect Podcast, presented by the California MBA, to hear how the industry is making the shift to fully digital closings! This week, the CEO of the California MBA Paul Gigliotti, sits down with Leah Sommerville, Director of Sales at DocMagic and 2025 HousingWire Rising Star, to dive deep into the world of mortgage tech. Leah shares how she's helping lenders embrace fully digital closings and what that means for borrowers. We discuss everything from AI-powered platforms to the rise of eHELOCs and beyond. Leah breaks down the cutting edge of mortgage innovation and reveals what's still holding some lenders back from making the leap. Hear how DocMagic is actively pushing the entire mortgage industry forward! Topics We Cover: • The current state of digital mortgages. • The role of AI in the lending process. • Understanding eHELOCs and other digital products. • What prevents lenders from adopting digital closings. • DocMagic's vision for the future of mortgage technology. Stay connected with the California MBA: https://www.linkedin.com/company/californiamba/

In this special edition of the Connect podcast, outgoing CEO Susan Milazzo sits down with her successor, Paul Gigliotti, to discuss the future of the California MBA (California Mortgage Bankers Association) Susan celebrates her 21 years of service while Paul, a veteran mortgage leader with a deep background in mortgage technology, outlines his vision for the association. Get an inside look at Gigliotti's journey, from building lenders to advancing mortgage tech, and hear his plans for amplifying California MBA’s advocacy, enhancing member engagement, and leading the industry through an era defined by affordability and AI innovation.

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Mark Wilson, CEO, Advisent Episode discussion topics: How you got into the mortgage industry? You have big news that just launched – the rebranding of your company. What was CWDL is now Advisent! Why a rebrand and what has been the journey to Advisent? How does this rebrand help Advisent support clients with long term strategic goals? I’ve always found it fascinating that your firm specializes in this the mortgage industry. Where to you see accounting in the mortgage banking space going in the next 5 – 10 years? Can you share with our listeners why you chose to support the California MBA? To learn more about the California MBA, visit cmba.com

Connect with Lee Gillispie, Senior Managing Principal, Paradatec | Episode 244 by The California MBA

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Susanne Livingston Owner/Chief Strategy Officer, RWM Home Loans and Jimson Tharayil VP Strategic Partnerships, Acrisure. Episode discussion topics: What’s really driving the spike in homeowners insurance rates in California? What can homeowners — and insurers — do to manage these costs? How is regulation impacting the insurance landscape in California? Where is technology helping — and where is it falling short? To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Kenon Chen, EVP Strategy and Growth, Clear Capital. Episode discussion topics: Tell us how you got into the mortgage industry? I believe Clear Capital has been involved with the California MBA since its very early days, which is more than 20 years! What have been the most surprising industry changes for the company in that time? The company’s mantra on your website reads: Wherever it leads, Whatever it takes. What does that mean for your customers? Clear Capital was one of the early adopters of technology in the mortgage space. Tell us about how Clear Capital is using AI in your products. Can you share with our listeners why you chose to support our organization? To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Daniel Ceniceros, Founder & CEO, Connect Media Episode discussion topics: 1:59 - What innovative marketing techniques should people be thinking about to get their name out there? 4:37 - What innovative things is Connect doing as a company in this challenging marketing? 10:51 - Let’s do a check in on the commercial real estate finance market in general. How is mid-year 2025 looking for the industry? 13:21 - I’m thrilled to have Connect CRE back at our annual Western States CREF Conference. What should people do to get the most of this event To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Cody Charfauros, Principal/Managing Director, Slatt Capital Episode discussion topics: What are some of the biggest changes you’ve seen in the CRE market since then? When you were last on Connect, we talked about the adoption of technology in CRE. Where is the industry today? How is the insurance crisis impacting the commercial real estate finance industry? You are also serving as this year’s Chair for our 2025 Western States CREF Conference (wscref.com). What are some of the highlights you can share with our listeners? Western States CREF is our signature event for the CRE industry but the support we receive through membership is crucial to our continued success. What do you share about the value of the California MBA with companies considering membership? To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Jon Brod, Co-Founder & CMO, Roam Episode discussion topics: 1:14 - Let’s start with your journey—what sparked your move into the world of AI? Was there a defining moment or inspiration behind that transition? 4:54 - We usually record these podcasts on Zoom, but today we’re on your platform—Roam. What makes Roam different, and why do you believe it’s the better choice for conversations like this? 9:05 - Roam clearly has potential across multiple industries, but where do you see it making the biggest impact within the mortgage space specifically? 11:29 - Jon, you’re an accomplished entrepreneur and founder of several companies over the years. What advice would you give someone who wants to launch their own company? 13:46 - We truly appreciate your support at the Mortgage Innovators Conference and your decision to join the California MBA. What motivated you to get involved, and why does this partnership matter to you? To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Amy Moses, Business Development Consultant, MISMO Episode discussion topics: 1:28 - I always like to get started with a little background, so tell us how you got into the mortgage business 2:44 - Can you share with our listeners a little more about MISMO and the value the organization brings to the lending industry? How can lenders become involved? 6:12 - What are some of the key initiatives underway at MISMO right now that will benefit the industry? Anything that will help lenders cut costs in these trying times? 9:03 - What are the big trends in mortgage technology that you see for the next 12 months? I assume increased use of AI but is there anything in particular? 11:50 - Can you share with our listeners why you choose to support our organization? Subscribe to MISMO Matters here! https://app.smartsheet.com/b/form/a468c0d093284b9ba54fd2f3afad7731 Register for the MISMO Fall Summit, September 15-18 in Annapolis, MD - https://www.mismo.org/events-education/mismo-summit- To learn more about the California MBA, visit cmba.com

Welcome to Connect, a podcast featuring one-on-one interviews with some of the top movers and shakers in the mortgage industry. This week we welcome Caren Castle, Managing Attorney, California, The Mortgage Law Firm Episode discussion timestamps: I always like to get started with our journeys to the mortgage industry. Tell us how you got into this business. You’ve had such an impressive legal career and have really been a trailblazer for women in this industry—often the only woman in the room. We’ve even heard you called an icon. How does that label sit with you? I heard you have a special connection to an Olympic medalist and a member of the judiciary. Can you elaborate on that? With a footprint that spans seven Western states, including Hawaii, your firm clearly has a strategic regional reach. Can you walk us through how that came to be and what that means for your clients? The Mortgage Law Firm is new to the California MBA and is becoming active. Can you share with our listeners why you chose to support our organization? To learn more about the California MBA, visit cmba.com